Czech Airlines suffers losses of 456 million crowns

By Czech accounting standards CAS Czech Airlines suffered losses of 456 million crowns in the year 2001, while the International Accounting Standards indicate that the carriers profits fell by 57 percent from the previous year. The losses come in reaction to last year's September 11th terrorist attacks, and the international airline crisis that ensued. CSA's yearly profits for 2001 totalled 260 million crowns, or almost 8 million dollars US.

Author: Jan Velinger